Book Review: Landlord’s Tax Deduction Guide

Ok so I know tax deductions are not that exciting to talk about but I know we all would prefer to have more cash in our checking accounts at the end of the year. The great news is there are lots of ways real estate investment properties can provide tax deductions. The bad news is the rules change every year so when this book arrived on my desk last week I was actually very excited. Every Landlord’s Tax Deduction Guide by Nolo Press. This 9th edition just came out this year and is over 500 pages! Did you know there are...

Should Corporate Housing Landlords Pay Realtor Commissions?

Chances are if you’ve been renting out your corporate housing property long enough, you’ve been asked by a Realtor if you would you pay a Realtor commission for a tenant they brought to you. The truth is that it’s your decision whether you want to work with a Realtor and pay his/her commission fees, not theirs. Many property management firms with several furnished properties available for rent will welcome the services of a Realtor to help keep their occupancy maximized. In fact, a Realtor can be worth every penny to a property management company with multiple properties available for...

Tenant Screening Made Easy for Corporate Housing Landlords

Every so often I like to blog about a value-added feabture CHBO offers its members. Today I’d like to talk about the importance of  tenant screening and how to do it. Too often, landlords will skip the credit check and background check, likely due to cost or they don’t know how to do it. CHBO takes the guess work out of the process through it’s partnership with TransUnion’s MySmartMove program. To run a credit or background check on your tenant, simply visit MySmartMove page at https://chbo.mysmartmove.com. CHBO has pre-negotiated rates for all CHBO members to take advantage of – score!...

Mileage Counts When Doing Your Rental Property or Business Travel Taxes

Corporate Housing Landlords: Did you know that you can deduct mileage when traveling to and from your rental property and when doing errands in relation to your property? Business Travelers (Tenants of Corporate Housing): Same for you, you can deduct mileage when traveling for business and when driving to and from your corporate rental. Good news – for 2012, the mileage standards have increased. Beginning on Jan. 1, 2012, the IRS says the standard mileage rates for the use of a car (also vans, pickups or panel trucks) is 55.5 cents per mile for business miles driven. The rate for...